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Pressure on creatives: PR, advertising firms targeted by fossil fuel divestment movement. As fossil fuel companies' social license to operate becomes increasingly frayed, more industries in their orbit are getting entangled in the reputational quagmire that is now part and parcel of any activity that exacerbates the climate crisis.
In August of that same year, reinsurance company Munich Re published a report on the devastating impacts of recent floods, warning of the risks of climatechange. It’s the result of rapidly increasing underwriting losses to climate-driven events that insurers and reinsurers are seeing worldwide.”
This helps explain why more than $11 trillion have been divested from fossil ownership, even before the University of California announced that it was divesting its $80 billion portfolio. Surely the world runs on oil. This will just be a blip to what is an essential industry for humankind, won’t it? economy $150 billion annually.
How did the fossil fuel industry manage to raise a generation of climatechange deniers? A research group has just identified a big component of that attitude shift: the fossil fuel industry’s decades-long campaign to bury the truth by cozying up to universities and discrediting climate science.
To capture unrealized value and move toward net zero, investors should continue to invest and prioritize active engagement with ESG laggards on their response to climatechange and management of greenhouse gas (GHG) emissions. But this approach misses out on untapped value and potential in the companies that have room to improve.
An investor’s decision to divest “doesn’t mean an end to all ESG-focused engagement with that company”, according to Eric Nietsch, Head of Sustainable Investing for Asia at Manulife Investment Management. . There’s ultimately a place for both engagement and divestment,” said Nietsch. “If Multi-year effort .
From companies looking to select cleaner manufacturing suppliers, to investors seeking to divest from polluting industries, to consumers making choices about which businesses to patronize, one thing is clear: a reliable way to measure where emissions are coming from is necessary," they wrote. ClimateChange. Innovation.
“It was very important to us that we linked the remuneration of everybody at Caisse de dépôt et placement de Québec (CDPQ) to achieving our climate targets – we are one of the first investors to do this,” said Bertrand Millot , the Canadian asset owner’s Head of Sustainability. of CDPQ’s total C$452 billion (US$329.7 billion) in AUM.
This overtook the Marinara dam disaster as Brazil’s most catastrophic environmental event, which killed 19 people and destroyed the village of Bento Rodrigues in 2015. The authorities and companies involved must step up as soon as possible and prevent these wholly unacceptable events.”. Disputing divestment.
Pension fund makes case for divestment, against backdrop of increasingly positive climate policy across major markets. This conclusion was drawn after several years of engaging in discussions with the fossil fuel industry,” he said, underscoring the need for more “substantial and immediate” actions to combat climatechange.
Public and private sector coordination provides the theme – and events of Nairobi, London and Rio de Janeiro the backdrop – for this week’s digest. Many regions are having to adapt to the realities of warmer, wetter, slow-moving weather systems, among other physical impacts of climatechange.
Forward-looking statements reflect the company’s current expectations and projections about future events at the time, and thus involve uncertainty and risk. It is not possible to foresee or identify all such factors.
Private equity investments often demand long holding periods to allow for a turnaround of a distressed company or a liquidity event such as an IPO or sale to a public. Alpha Impact Investment Management (AiiM) Partners invests in technology-enabled companies addressing climatechange while prioritizing equity and access.
Aviva Investors expressly referred to divestment as a potential strategy to achieve these goals. State Street Global Advisors’ (SSGA) CEO, Cyrus Taraporevala, said in his letter to CEOs that the manager will support the acceleration of the systemic transformations underway in climatechange and the diversity of boards and workforces.
As global momentum builds behind transition planning, Mark Manning, Senior Visiting Fellow at the London School of Economics, makes the case for a systemic response to the challenges of climatechange. Arguably, we need to be thinking about transition planning as a system response to the challenges of climatechange.”
Countries are already dealing with massive movement of peoples due to war and conflict, and now increasingly climate disasters from outside their borders, and within. Countries are already dealing with massive movement of peoples due to war and conflict, and now increasingly climate disasters from outside their borders, and within.
Speaking at the event, UN ClimateChange Executive Secretary Simon Stiell noted the risks of desertification across the continent, which is claiming 4.4 Other areas – specifically concerning food and energy – were already being debated at this week’s African Ministerial Conference on the Environment. million hectares annually.
Road to COP28 Despite this evolution in climate awareness, the current rate of emissions growth and the uneven attempts to curb it mean that it is increasingly likely that global temperatures will exceed the 1.5°C The Church Commissioners, which manages the CoE’s £10.3 billion (US$13.2 billion (US$13.2
Adaptation themes will be incorporated into the network’s workstreams over the next two years. To better stimulate investment in climate resilience across Australia and New Zealand, the Investor Group on ClimateChange (IGCC) has developed its ‘ Road to Resilience ’ strategy.
De-risking in response to global events is narrowing allocations, however, with a decrease in investment to alternative markets despite there being growing interest in areas such as green energy infrastructure. For context, 2019’s survey had 68% of charities viewing climatechange as a responsibility. Risk appetite fall.
C, company engagement on climatechange will have minimal impact, prompting investors to collective engage policymakers to drive systemic change, according to Kristina Church, Global Head of Sustainable Solutions at BNY Mellon. If global temperatures rise above 1.5°C, If global temperatures rise above 1.5°C,
Diversification or divestment are not realistic options. At last week’s PRI in Person event in Tokyo, many firms highlighted how they had already used TNFD’s LEAP approach to identify their most material risks, dependencies and impacts, with some also reporting these in annual sustainability reports alongside climate risks.
The DWP issued a consultation last October on proposed changes to the Occupational Pension Schemes (ClimateChange Governance and Reporting) Regulations 2021 to require trustees to calculate and disclose a portfolio alignment metric to show alignment with the goal of limiting climatechange to 1.5 degrees Celsius.
In just ten years, Jacobson has harnessed passion, determination and science to re-frame the way renewable energy is seen and, ultimately, accepted as a viable solution to climatechange and air pollution. On the evening of July 10, 2011, Jacobson attended a swanky event in San Francisco. ClimateChange Conference in Paris.
In recent years there has been a global push for increased transparency on the financial implications of climatechange. As extreme weather events grow in both frequency and magnitude under the changingclimate, decarbonisation plans need to be adapted to build resilience to these more potent extremes.
In Interlaken, Switzerland, governments conducted the painstaking business of approving the key messages for policymakers of the latest Synthesis Report from the Intergovernmental Panel on ClimateChange (IPCC), aka the world’s foremost climate scientists. In Canada and Europe, the emphasis is on transition.
This compares to a second quarter 2021 Net Loss of $486 million and non-GAAP Operating Earnings of $47 million, which included results of the divested fossil and solar assets. This event can be accessed by visiting [link] to register. changes in tax laws and regulations. per share).
Meanwhile in the asset management sector, Legal & General Investment Management said it would divest from Russian sovereign debt and the manager has reduced total exposure to 0.1% of AUM or £1.3 billion. .
Despite suffering severe impacts from climatechange, Australia remains married to coal, but alternative energy opportunities are emerging. Many of the communities dealing with this recent flooding have already had to deal with a range of cascading climateevents in recent years.
These were highlighted at last October’s PRI in Person event by Jan Rasmussen, Head of ESG and Sustainability at PensionDanmark. C of warming, the Inevitable Policy Response calculates that current government policies, ie those in place pre-COP28, will only limit climatechange to 1.8°C
“Environmental issues have been a top priority for trustees, particularly with the publication of the IPCC [Intergovernmental Panel on ClimateChange] reports and various commitments to net zero,” she says. Understanding how a portfolio addresses or contributes to systemic risks will help trustees plan for the long term.”.
Global perspective Also speaking at the event, John Mulligan, Director, Market Relations and ClimateChange Lead, World Gold Council, said that the investment community must move away from “short-termism” with regard to how it measures value. “How do we value loss?”
If the aim of restricting climatechange to within the Paris-agreed 1.5°C C increase over pre-industrial temperatures was hanging by a thread at the end of COP26, subsequent economic and geopolitical events appear to have dealt a blow to those ambitions – at least in the short term.
What really resonated with me was the fact that I would always have conversations with friends or family about climatechange, and I would either be given one of two answers: that either it doesn’t exist, or that someday either technology or ‘they’ would solve the problem," Battochio says. . LinkedIn | Twitter. Heather Clancy.
Technology provider firm Broadridge Financial Solutions recently published a white paper on investors’ growing interest in pass-through voting, noting how it is fostering “the democratisation of investing in a major way”, giving investors a voice in how their asset managers vote proxies on the underlying equities in a specific fund.
Forward-looking statements reflect the company’s current expectations and projections about future events at the time, and thus involve uncertainty and risk. dollar, (18) changes in tax laws or U.S. dollar, (18) changes in tax laws or U.S.
Forward-looking statements reflect the company’s current expectations and projections about future events at the time, and thus involve uncertainty and risk. dollar, (18) changes in tax laws or U.S. dollar, (18) changes in tax laws or U.S.
Forward-looking statements reflect the company’s current expectations and projections about future events at the time, and thus involve uncertainty and risk. dollar, (18) changes in tax laws or U.S. dollar, (18) changes in tax laws or U.S.
Forward-looking statements reflect the company’s current expectations and projections about future events at the time, and thus involve uncertainty and risk. dollar, (18) changes in tax laws or U.S. dollar, (18) changes in tax laws or U.S.
Climate risk and resilience are largely modeled by insurance companies, looking at how a company’s assets may be affected by rising sea levels, extreme heat, increasing natural disasters and other future climateevents as climatechange worsens. said Free.
As with virtually all gatherings of the climate community during the COVID age, this year’s Climate Week was convened as an online event — one hosted from more than 20 countries across myriad time zones rather than its usual host city of New York. .
University activists are increasingly citing the oil and gas industry’s targeting of kids in the classroom as another reason to divest from fossil fuels. Climate education is a problem at many of America’s 100,000 public schools. trillion climate-focused infrastructure bill. The divestment solution.
Environmental successes are easily overlooked in a world ravaged by climatechange, biodiversity loss, an ongoing global pandemic and attacks against democracy. The dystopian legacy of the former president is becoming increasingly clear to all but the willfully ignorant as is his politicization of climatechange and COVID.
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